NEWS SOURCE: CONIX Systems Inc.
MANCHESTER, Vt., Nov. 4, 2011 (SEND2PRESS NEWSWIRE) — CONIX Systems, Inc. (CONIX), a leading international provider of payment processing solutions to the financial services industry, and Trustmark National Bank (Trustmark) have completed the bank’s implementation of Dupe Detective™, the payments industry’s leading Day 1, multi-channel duplicate payment product.
Trustmark is a subsidiary of Trustmark Corporation (TRMK), a diversified financial services company with $9.6 billion in assets and 150 branch locations in Florida, Mississippi, Tennessee, and Texas. Trustmark selected the CONIX duplicate detection solution in Q1 2011.
“Having a duplicate item detection system was a critical element of Trustmark’s strategy to embrace centralized item capture and processing remote branch capture through image technology, extending the benefits out to our customers. We were interested in working with a proven solution – which is where CONIX Systems’ Dupe Detective really distinguished itself during our due diligence,” said Harold Winborne, First Vice President, Trustmark National Bank.
“Implementing a new payment processing element is not on anyone’s list of favorite undertakings,” Winborne said. “However, the people at CONIX Systems made this process smoother and we have ‘gone live’ more quickly and with far less hassle than I thought possible.”
“One of the many advantages of Dupe Detective is that it is unparalleled in effectively addressing the problem of ‘false positives.’ Many banks and processors have delayed mission-critical decisions about duplicate payments detection based on this issue,” said CONIX’s Managing Director of Sales, Steve Fortson. “Despite the risks and losses caused when a duplicate item posts to an account, the threat of creating and managing false positives with their legacy systems and manual procedures is understandably overwhelming.”
CONIX Systems’ Dupe Detective X9 Inspector feature and the ability to integrate with outgoing return systems virtually eliminates re-presented returns, which is the most common source of false suspects. It also provides business rules and filters for automatically managing other sources.
Among the capabilities Trustmark has utilized through Dupe Detective:
* Expedited suspect decisioning – Its Suspect Review enables operators to easily determine whether the suspect is truly a duplicate payment by providing the data and images of all matched payments. Item navigation in Suspect Review allows operators to go to specific items based on dollar amount, enabling them to prioritize high-dollar items.
* Streamlined business-rules driven workflow – Automates duplicate payment segmentation by depositor, depositor group, account, payment channel or type, payment amount, and other key criteria via its powerful, menu-driven business rules engine.
* Legacy systems integration for final resolution – Integrates with the bank’s payment systems to expedite new payment processing.
* Eliminates false positives – Flexible business rules, filters, the X9 Inspector feature, and integration with outgoing returns systems provide automatic handling of the major sources of false positives.
* Configurable partitions – Item history for searching for duplicates can be extended to almost three years.
Trustmark’s Winborne anticipates the following operating benefits by implementing Dupe Detective:
* Catching duplicate items on the front end, prior to posting;
* Ensuring payment return decisions are correct; and
* Adjusting cash letters accurately.
About CONIX Systems, Inc.:
CONIX Systems, Inc. (www.CONIX.com) is a world leader in providing payment processing software and related services to the financial services industry. CONIX software and services are used by approximately 80 percent of the largest U.S. banks. Its comprehensive solutions are simple to use in production and simple to maintain, guaranteeing high quality performance at the lowest cost.
CONIX has a reputation for driving innovation with products such as Dupe Detective™, which prevents duplicate payments from all channels from posting to customer accounts; Fraud Detective™, which accelerates exceptions processing into Day 1, significantly reducing fraud risk for institutions and their customers; and Enterprise IRD™, which enables comprehensive, high-volume IRD authoring across the enterprise.
Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States. For more information about CONIX Systems, Inc. and its products, call (800) 332-1899 or email info@conix.com.
News issued by: CONIX Systems, Inc.
Original Image: https://www.send2press.com/wire/images/11-1104-conix_72dpi.jpg
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Original Story ID: 2011-11-1104-002 (7411) :: 2011-11-1104-002
Original Keywords: Harold Winborne, Steve Fortson, Dupe Detective X9 Inspector, CONIX Systems Inc, Trustmark National Bank, NASDAQ:TRMK, Manchester Vermont, software, SaaS, cloud, payment processing software CONIX Systems, Inc. Manchester Vermont MANCHESTER, Vt.
Alternate Headline: CONIX Systems’ Dupe Detective goes into production at Trustmark National Bank
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NEWS SOURCE: CONIX Systems Inc. | Published: 2011-11-04 13:59:02
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